Page 435 - IC38 GENERAL INSURANCE

Insurance surveyors undertake the work of investigation also. It helps if a
surveyor gets on to the job as early as possible. Therefore, the practice is to
appoint the surveyor, as soon as possible after the intimation of the claim is
received.

4. Surveyors and Loss Assessors

a) Surveyors

Surveyors are professionals licensed by IRDAI. They are experts in inspecting
and evaluating losses in specific areas. Surveyors are generally paid fees by
the insurance company, engaging them. Surveyors and loss assessors are
hired by general insurance companies normally, at the time of a claim. They
inspect the property in question, examine and verify the causes and
circumstances of the loss. They also estimate the quantum of the loss and
submit reports to the insurance company.

They also advise insurers, regarding appropriate measures to prevent further
losses. Surveyors are governed by provisions of the Insurance Act, 1938,
Insurance Rules 1939 and specific regulations issued by IRDAI. Claims made
outside the country in case of „Travel Policy‟ or „Marine Open Cover‟ for
exports, are assessed by the claims settling agents abroad named in the
policy.

These agents may assess the loss and make payment, which is reimbursed by
the insurers along with their settling fees. Alternatively, all the claims
papers are collected by the insurance claim settling agents and submitted to
the insurers, along with their assessment.

Important

Section 64 UM of Insurance Act

Where, in the case of a claim of less than twenty thousand rupees in value on
any policy of insurance it is not practicable for an insurer to employ an
approved surveyor or loss assessor without incurring expenses disproportionate
to the amount of the claim, the insurer may employ any other person (not being
a person disqualified for the time being for being employed as a surveyor or
loss assessor) for surveying such loss and may pay such reasonable fee or
remuneration to the person so employed as he may think fit.

5. Claim forms

The contents of the claim form vary with each class of insurance. In general the
claim form is designed to get full information regarding the circumstances of
the loss, such as date of loss, time, cause of loss, extent of loss, etc. The other
questions vary from one class of insurance to another.

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